Super Testnet on Nostr: My fundamental argument against monero is that I think it's a worse money than ...
My fundamental argument against monero is that I think it's a worse money than bitcoin. Specifically in these metrics:
- dynamic block sizes mean blocks will get big if monero gets popular
- large blocks are hard and expensive to validate
- validation difficulty discourages everyone except rich people from running nodes
- the people running the nodes control the network
- so if the rich alone run the nodes, the rich alone control the network, which sounds bad to me
- monero also has perpetual inflation, and I think that is a bad idea for the reasons outlined by Gregory Maxwell here: https://bitcointalk.org/index.php?topic=5405755.msg60542558#msg60542558
I will also give you a non-fundamental argument against monero: monero was created to achieve better privacy than bitcoin had at the time, which was a laudable goal. But lightning showed that there's an even better way to do privacy, so adopting monero now would be a step backward. There's better privacy technology available now and bitcoin adopted it via lightning.
- dynamic block sizes mean blocks will get big if monero gets popular
- large blocks are hard and expensive to validate
- validation difficulty discourages everyone except rich people from running nodes
- the people running the nodes control the network
- so if the rich alone run the nodes, the rich alone control the network, which sounds bad to me
- monero also has perpetual inflation, and I think that is a bad idea for the reasons outlined by Gregory Maxwell here: https://bitcointalk.org/index.php?topic=5405755.msg60542558#msg60542558
I will also give you a non-fundamental argument against monero: monero was created to achieve better privacy than bitcoin had at the time, which was a laudable goal. But lightning showed that there's an even better way to do privacy, so adopting monero now would be a step backward. There's better privacy technology available now and bitcoin adopted it via lightning.